Inflation hedge? Bitcoin jumps after US consumer price data | Crypto News

Bitcoin extended gains after data showed US consumer prices increased at the fastest pace in nearly four decades.

By Bloomberg

Bitcoin extended gains after a report showed U.S. consumer prices increased at the fastest pace in nearly four decades.

The largest cryptocurrency by market value has long been touted as an inflation hedge, in part because of its fixed supply. Bitcoin rose as much as 4.4% to $50,101 in New York trading on Friday. The…


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